A point of sale credit card processor is a tool that can help you boost your customer base by providing the customer with several payment options. The device accepts payment through credit cards and in return, creates an invoice that indicates that the customer made a payment. It also keeps a record of the company’s daily sales.
Before you jump in to getting your business a POS CC processor, consider a couple of essential features that a great POS credit card processor should possess.
If you want to increase your customer base, then the prime factor is to expand your payment method coverage. Not every customer has a credit card; some might have a debit card. Make sure the POS CC processor accepts both.
Also, the growing technology has turned consumer attention towards having digital wallets instead of cash in hand. Therefore, check if your POS CC processor accepts e-wallets or not, otherwise, you might lose a good amount of customers.
When purchasing a POS CC processor, make sure the provider’s respective representatives are available 24/7 – not virtually but physically.
You never know when the processor starts acting up and causes your company a huge loss financially. The loss can be even bigger if a POS malfunction happens during the peak hours of your business. An immediate connection with the processor provider will fix the problem, and save your company from a sudden breakdown.
When it comes to credit cards, the first thought that comes to mind is fraud and theft, and possible measure to prevent it.
To protect your company’s hard-earned cash, look out for a processor that has an in-built security system. Secondly, check for the registration of the processor with “payment card industry data security standard” (PCI-DSS). Lastly, ask the provider if the processor will document, secure, and back up your sales records.
Connecting your credit card processor directly with your point of sale system can make business operations a lot easier than before.
The reason is that as soon as a customer makes a payment through a card or electronically, the POS system will update the record purchased item in the inventory. Thus, it will keep the inventory up-to-date without any manual labor.
Investing new tools in your venture seems progressive until your profit decreases. However, if the tool you have purchased proves to be beneficial and expands the company’s reach, then the money you have spent has produced its value. However, it does not mean that you purchase an overly priced processor. It will prove to be counterproductive.
The best thing to do is to do a prolonged research, compare prices according to the features of each processor, and then make a purchase.
If you’re still confused, which provider would serve you with the best deal and price of credit card processor, then nothing major to worry. Contact Smart POS and avail yourself to the best deals along with 24/7 customer support.